Landmark Tax Group - August 2019

Landmark Ledger August Is Bringing Change And How We’re Preparing

(949) 260-4770 Professional | Experienced | Licensed Expert IRS & State Tax Relief

August 2019

When scaling your business, it can be a big change, and you need to know who

change in our lives. It meant a lot that we could be there for each other, even if it was just little things, like helping each other get ready for school or setting up the dinner table. To this day, if any of us are getting ready for a big change, we’re there for each other, especially if it’s related to business. Since we get in touch weekly, we can give each other business advice if we need it. We’re all lucky in that respect; we all have a little expertise in different business fields, so we’re constantly learning from each other. My sister is always eager to help us and point us in the right direction with any legal matter. My brother had a PR firm, so he knows his way around various marketing and public communication issues, but if they ever get audited, I’m their tax guy! Because I’ve been able to depend on my family during times of change, I strive to be that same reliable resource to my clients for the changes in their lives. Landmark Tax Group is about helping individuals understand their tax situation and figuring out a way to improve it. After all, taxes are just as stressful to an adult as the arrival of a new sibling or divorce can be for a child. When you’re in need of a stable pillar to help with your taxes, we’re always ready to take the call. If you’re coming up on an exciting or intimidating change in your business or personal life and you have some tax questions or concerns, know that you can rely on us. We would love to visit with you and ensure the next big change in your life goes as easy as possible.

you can rely on. This type of change can feel a lot like welcoming a new member to your family or a big move.

My wife and I share a big, close family, which is helpful to lean on when you have a shift in the status quo. I’m especially reminded of that right now because we are expecting the newest addition to our family this month. By the time you’re reading this, our 3-year-old son, Benjamin, will have a baby sister to watch out for. Benjamin is already taking his big brother position very seriously. Whenever we go out and my wife and I mention it being the three of us, Benjamin is quick to correct us. “The four of us!” he always says. He’s so excited to teach his little sister how to swim and play the guitar. It’s so sweet to see how much he already wants to look out for his baby sister. With our new addition coming into the world and changing our family dynamic, it’s a relief that we can rely on Benjamin to be supportive and ready to help. I’m honestly really impressed with Benjamin; for being so young, it already seems like he’s ready for the change and knows how to handle it. My siblings and I weren’t fully prepared for the change in our household. After my parents divorced, my dad and my siblings and I moved from New York to Florida. At the time, my little brother was 4, I was 9, and my sister was 11, and it was a lot to take in at such a young age.

“One of the most highly rated and best reviewed businesses on Yelp!” AS SEEN ON:

Entrepreneur, Inc

–Michael Raanan, MBA, EA, Former IRS Agent

We really banded together after the move, and it taught us the value of relying on each other during such a huge

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You’re Getting Very Sleepy ... Between vacations, bonfires, and sporting tournaments, your children’s sleep schedule probably went on break when they did this summer. With school fast approaching, it’s vital to get your kids back on a proper sleep schedule. In fact, according to the National Sleep Foundation, getting enough sleep can significantly improve a child’s growth and cognitive function. doze off when they should. Sleep experts recommend creating a sleeping space that mimics a cave: dark, cool, and quiet. This Establishing a Bedtime Routine for the School Year

means sunlight shouldn’t sneak into the room, and

But getting a restful night’s sleep is easier said than done when kids have had almost complete freedom for three months. Try these tips to get your kids snoozing through August and prepared for school. Start Early and Go Slowly When practicing this tip, think of the old adage: “It takes 21 days to break a habit.” If your kids have been going to bed late this summer, set a time when they must go to bed, but don’t make it too far off the time they have been regularly hitting the hay. If they shuffle off to bed around 10 p.m., push their bedtime to 9:45 p.m., and then push it back to 9:30 p.m. one week later. Slowly work your way back to an appropriate time, and bedtime will be easier when school starts. Make It Easy Though the days may be getting shorter, it’s still relatively light out at night, making it nearly impossible for your kids to

the home should be a quiet zone after bedtime. No one wants to sleep while everyone

else is having fun, so it’s important that everyone in the home is quiet at bedtime.

Just Relax This is a rule your family should follow year-round, not just when you want to reestablish a routine. At a certain time each night, begin the nightly wind-down. For example, at 8 p.m. shut off your screens, put on pajamas, and engage in a relaxing activity, like reading a book or doing some yoga. Signaling to your body and your family that it’s time for bed will help your kiddos, and you, fall asleep at an appropriate time.

HOW A $390,459 IRS DEBT REACHED A 94% SETTLEMENT A Client Case Highlight:

At Landmark Tax Group, we’re always eager to showcase any client who has reached an appealing settlement with the IRS! One, in particular, secured a low $200 a month plan. The client in this case will now only have to pay around $22,000 out of the original $390,459 debt. That’s a 94% settlement with the IRS! While the agreement has a set of strict conditions the client will have to adhere to, this is an incredible achievement. Working with the IRS and getting a settlement like this is no easy task! Just being able to settle with the IRS is a great accomplishment in itself. In years past, the IRS has received as many as 74,000 applications for settlements and accepted less than half of them. In some years, there has been as little as a 30% acceptance rate for settlements. That’s especially alarming when you think about the actions the IRS takes for the unaccepted settlements. The IRS is serious when it comes to tax debt of any kind. There have been years where the IRS has put liens on over 700,000 homes, which puts more than 700,000 families in very stressful situations. If

you have read our article on the serious toll that debt stress can take on your health, you know how alarming these numbers are.

Never put you or your family in a stressful situation with the IRS. Here at Landmark Tax Group, we specialize in IRS and state tax settlement cases just like the one above. Our team is comprised

of several former IRS agents who now work to serve the interests of our clients, and we regularly handle a variety of IRS and tax relief cases. If you have any specific tax questions or if you owe any amount of back taxes, feel free to contact us at (949)-260-4770 to speak directly to one of our former IRS agents.

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What Happens When the IRS Comes to Collect? How to Avoid Levies and Liens

When life happens and you get a collection notice from the IRS, those butterflies in your stomach could turn into mad ravens. The first thing you need to do to put your mind at ease is to find a tax specialist who can work with you to fix the error. If you don’t respond quickly to the notice, it can lead to a host of repercussions. Your Account Becomes Delinquent Your account will be delinquent if you don’t pay a bill from the IRS in a reasonable amount of time. Smaller tax debts will be sent to their automated collections system

(ACS) unit, whose primary objective is to set up a payment plan. ACS will initially try to contact you by mail, and if they cannot get a hold of you, they’ll put a lien on your assets. Notice of Federal Tax Lien If you’re not able to set a payment plan with the ACS, they may file a federal tax lien. This essentially lets the public and creditors know that you have a tax debt. A lien affects all current and future rights to your property, so if you’re unable to pay your debt, the IRS can seize your property. Opportunity to Request a Hearing Before the IRS can send levies or garnishments to your bank and employer, you have a chance to request a hearing. In your hearing request form, you have to express why the IRS shouldn’t pursue a lien or levy. The IRS could reject your request if it isn’t done correctly. If your appeal cannot be accepted or is not received in time, the IRS will escalate its actions, such as seizing and selling your property or even revoking your passport. You don’t have to go through this alone, though. If you are ever caught in a situation with the IRS, reach out to your friends at Landmark Tax Group. We can work with you to ensure that you never have to go through these steps by yourself. Learn more about how our experts and former IRS Agents can help you by calling (949) 260-4770.

Laughing at Taxes!

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2030 MAIN STREET, STE # 1300 IRVINE, CA 92614 www.LandmarkTaxGroup.com (949) 260-4770 Professional | Experienced | Licensed Expert IRS & State Tax Relief

Inside This Issue How We’re Preparing for August Change 1 Get Your Kids Back on a Sleep Schedule A Client Case Highlight 2 The Unfortunate Steps Taken by the IRS With Tax Debt Laugh at Taxes! 3 Not Your Average Vacation Lodgings 4

Sudoku Answer Key

America’s Weirdest Airbnbs

This Ain’t Motel 6!

ManCave Apartment/Airplane Hangar Geneva, Florida

When Airbnb was founded a little over a decade ago, the developers hoped to provide an alternative to traditional travel accommodations. Today, with annual revenue in the billions, the service is an industry unto itself. While most people use Airbnb to “live like a local” while traveling, you can find some truly wacky lodging options if you spend some time searching the platform. Here are just a few of the many contenders for the title of “Weirdest Airbnb in the U.S.” For ease of searching, the listings here have the same titles as they do on Airbnb.

Airbnb super hosts Dan and Deborah have no shortage of quirky properties for rent — including yurts and treehouses — but their apartment fashioned out of an airplane hangar surely takes the cake. You’d be forgiven for thinking it was a theme restaurant featuring eclectic aviation. Memorabilia lines the walls with a bar front and center, and the bed is in a loft high above the ground.

Brand New Studio Earthship Taos, New Mexico

Dog Bark Park Inn B&B Cottonwood, Idaho

Earthships, houses run by clean energy and featuring reused materials, are a fixture of the Taos area. This one, which looks almost like a crashing wave with a living space in its undertow, combines the rustic charm of truly getting away from it all with modern amenities like Wi-Fi and in-home laundry. It’s a truly unique living space surrounded by pristine nature and not far from the historic Taos Pueblo.

As you approach the Dog Bark Park Inn, you won’t have to guess if you’re in the right place. After all, how many buildings are shaped like beagles? When describing the space on Airbnb, the hosts make no bones about who this rental is aimed for. “Stay in a giant dog!” they say. In addition to being inside a massive wooden dog, you’ll find canine-themed games, books, and more. Talk about ruffing it.

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